Breakouts for Nov 16th: The first pick, DKS, the former high flyer is in the process of shaping a new base. Tuesday's break of resistance came on the back of earnings and leaves the stock well positioned to test $35 resistance. A move over $35 will put the stock into the price void from the August gap down. Overbought slow stochastics and a bullish divergence in the MACD trigger line add to the bullish momentum. Two bearish aspects to watch for are the 200-day MA at $34.36, and the point-n-figure chart which still maintains a downward price target of $13.00. The second pick, SIGM, is nicely positioned under $12.26 resistance; breaking $11.41 resistance on heavy volume. All three technical indicators are bullish and improving. The stock featured in the Marketwatch 'Gurus Corner' as a long play with a suggested target in the $16-17 range. The point-n-figure chart highlights stiff resistance at $12.50 dating back to 2003; so expect this to pop up on traders radars once this price is breached. Nicely priced at Tuesday's close. The third pick, TESOF, has continued to exhibit strong accumulation on rising volume - breaking $16.82 resistance in the process. The company had released earnings in early November, but this had not produced any immediate reaction until now. Of the three breakout picks for Wednesday it has the highest Investors Business Daily ranking. A resistance break in the MACD trigger line and a breakout in on-balance-volume support the move in price. Tuesday's action ranked as a quadruple top breakout on the point-n-figure chart with a price target of $32.

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"IBD" refers to Investors Business Daily

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